Invesco Ltd. Acquires 96,065 Shares of HDFC Bank Limited (NYSE:HDB)

Key Points

• Invesco Ltd. increased its holdings in HDFC Bank by 1.6%, acquiring 96,065 shares during the first quarter, bringing its total to 6,048,960 shares valued at approximately $401.89 million.
• Other institutional investors, including JPMorgan Chase and National Bank of Canada FI, also expanded their stakes in HDFC Bank, reflecting growing confidence in the company.
• HDFC Bank's shares opened at $74.12, with analysts forecasting earnings per share of 3.03 for the current year, despite missing previous earnings estimates.

Invesco Ltd. lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 6,048,960 shares of the bank's stock after acquiring an additional 96,065 shares during the period. Invesco Ltd. owned approximately 0.24% of HDFC Bank worth $401,893,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG raised its holdings in shares of HDFC Bank by 451.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,490 shares of the bank's stock valued at $1,245,000 after buying an additional 15,955 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of HDFC Bank by 0.6% during the 4th quarter. Cerity Partners LLC now owns 65,069 shares of the bank's stock valued at $4,090,000 after buying an additional 359 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of HDFC Bank by 3.8% during the 4th quarter. Bank of Montreal Can now owns 81,999 shares of the bank's stock valued at $5,236,000 after buying an additional 2,973 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of HDFC Bank during the 4th quarter valued at about $39,495,000. Finally, Scotia Capital Inc. raised its holdings in shares of HDFC Bank by 6.8% during the 4th quarter. Scotia Capital Inc. now owns 22,404 shares of the bank's stock valued at $1,431,000 after buying an additional 1,429 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

HDFC Bank stock traded down $0.17 during trading hours on Thursday, reaching $73.84. The company had a trading volume of 1,387,780 shares, compared to its average volume of 2,582,971. The company has a 50-day moving average price of $76.03 and a 200 day moving average price of $69.70. The firm has a market cap of $188.33 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.84 and a beta of 0.64. HDFC Bank Limited has a 12-month low of $57.78 and a 12-month high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its quarterly earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. As a group, research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

HDFC Bank Company Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.